Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

September 07, 2005 08:00 ET

Cash Minerals Intersects Encouraging Copper and Uranium at Igor Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 7, 2005) - Cash Minerals Ltd. (TSX VENTURE:CHX) today announced partial results from its summer drill program at the Wernecke Mountain Area Igor Property, situated approximately 200 km east of Dawson City, Yukon. The highlights include 74.4 m (244 ft) of 1.88% copper and 1.4 pounds of uranium, including 14.5 m (48 ft) of 4.79% copper and 4.3 pounds of uranium. The hole and the copper-uranium-enriched interval both terminated in a post-mineralization fault zone.

The following Table provides the highlights of the first set of drill assays available from 2005 holes at the Igor Prospect.



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Hole From (m) To (m) Interval (m) U3O8 (lb/t) Cu (%)
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105-1 10.74 33.04 22.28 0.10 lb 0.32
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88.08 99.10 11.02 0.12 lb 0.38
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115.51 124.97 9.46 Nil 0.26
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105-2 8.95 13.36 4.41 Nil 0.35
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17.68 19.22 1.54 Nil 0.42
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29.00 30.35 1.35 Nil 0.33
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105-4 103.87 178.31 74.44 1.38 lb 1.88
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Including 111.87 124.30 12.43 3.84 lb 4.79
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and 160.27 174.81 14.54 4.30 lb 4.79
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and 160.27 164.59 4.32 8.00 lb 6.62
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Basil Botha, Cash Mineral's President and CEO, stated "Our confidence in these properties hosting uranium enriched iron oxide-copper-gold mineralization and modeled on the Olympic Dam Deposit in South Australia, (see Press Release April 21, 2005) was not misplaced - these results are very gratifying. We eagerly await further assay results as they become available over the next few weeks."

Hole I05-4 has also provided key information regarding the orientation of the main copper- and uranium- enriched zone and post-mineralization faults, to suggest that the main zone strikes northerly and dips steeply to the west while the faults strike westerly and dip to the north. With these orientations, only two of the seven holes drilled in 2005 could have intersected the main zone (holes I05-4 and I05-7). Hole I05-4 was drilled from the east and cut obliquely across part of the zone before ending in a fault, while Hole I05-7 was drilled from the west and cut nearly perpendicular across the zone. Hole I05-7 crossed the zone approximately 150 m north of I05-4. Only three pre-2005 drill holes crossed the trend of the main zone and all were well mineralized.

The summer 2005 drilling program at the Igor, Bond and Steel Properties in the Wernecke Mountains of Yukon Territory is now complete. A total of 17 inclined diamond drill holes, comprising 2425 m, were completed at these three prospects. Seven of the holes were drilled at Igor, another seven were at Bond and three holes were drilled at Steel. All of the holes tested for uranium enriched Iron Oxide-Copper-Gold (IOCG) mineralization.

Cash Minerals can earn an initial 50% share in this and the three other properties in the Wernecke Mountains from Twenty Seven Capital Corp.

Drilling at the Bond Prospect has confirmed results of earlier drilling by previous owners with holes intersecting weak uranium mineralization (0.025 to 2 lb/t U3O8) over narrow intervals in a shallowly north dipping zone.

Results from the Steel Property were inconclusive. None of the three widely spaced holes intersected significant copper or uranium mineralization. The results are enigmatic because they do not explain large and coincident magnetic and gravity geophysical anomalies over a broad overburden covered river valley.

Future work at the Wernecke Mountains Project is expected to focus on the Igor Prospect and the information obtained there may later be used to successfully explore the other prospects.

Work leading to results described in this news release was conducted by Archer, Cathro & Associates (1981) Limited under the supervision of Bill Wengzynowski, P.Eng. a Qualified Person under NI43-101. All assays were conducted at the laboratories of ALS Chemex in North Vancouver.

About Cash Minerals Ltd.

Cash Minerals has a two-pronged exploration and development focus in the Yukon. Its Division Mountain Coal Project's five Coal leases measure 776.4 hectares and the 22 Territorial Coal Exploration licenses cover some 360,000 hectares in coal-bearing stratigraphy. NI 43-101 confirms resources of 38 million tonnes (Measured) and 13 million tonnes (Indicated) and a full bankable feasibility nearing completion.

Cash's Uranium exploration projects boast major stakes in six quality projects, all of which were previously drilled. Four resemble an Olympic Dam-type project and two are modeled after the prolific Rossing Deposit in South Africa and one is testing possible unconformity-related, high grade, vein-and-fracture-controlled uranium mineralization. Assay results are pending. Cash Minerals Ltd. (www.cashminerals.com) is an emerging energy resource company listed on the TSX Venture Exchange under the symbol "CHX" and has approximately 33 million shares outstanding.

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